I am working in BPO as a free-lancer in India. Recently I heard about Indian Post Office MIP being a good option for monthly income. In fact, would like to know if any other such equally safe option is available to me too.
My question is if I can ask my father who is a retired govt service man to invest around 3 lacs in my name so as to the interestes accrued can be used by me. But of course, would not like it if it gives me any extra tax burden. As of now, I have around 2 lacs/annum of income against which I invest in LIC/PPF to the extent of 60000.